At what point one can say if is a bubble or just a temporary speed bump? I don’t believe those that invested in Amazon back in 1997 when everyone was calling the internet a bubble are complaining today. We know that from 1997 to 1999 Amazon grew over 6000% – that’s more than Bitcoin’s 4000% growth from 2009-2010!
I referenced the Amazon vs Bitcoin comparison above to provide some perspective. It is very easy to see the choppy charts and avoid the whole sector because it makes you nervous. But, again, Amazon’s charts were choppy when they were getting their feet on the ground, and despite the very obvious success of Amazon over the past 20 years, many dismiss anything new because of their lack of foresight.
First, I think I need to clarify that Bitcoin is not the same as the blockchain. In fact, in the future, he believes many Health and Financial services will be built on the blockchain. What I am saying is that I think Cuban understands the volatile nature of new technologies, and the risk involved in anything that is disrupting the status quo. I think he understands that despite the charts, despite the hysteria, and despite the critics, the underlying technology behind these blockchain startups is truly unique and powerful.
I am very excited about the future of the blockchain, and it seems I’m in good company!More on this topic: